Big Data Analytics in Healthcare Market Projected to Reach $95.2 Billion by 2030-Exclusive Report by Meticulous Research®

[Redding, California, 18-03-2024] - Meticulous Research®, a leading provider of comprehensive market intelligence, has unveiled its latest report on the Big Data Analytics in Healthcare Market. Titled "Big Data Analytics in Healthcare Market by Component (Software, Hardware, Services [Descriptive, Prescriptive, Diagnostic]), Deployment (On-premise, Cloud), Application (Clinical, Financial, Operational, Population Health), and End User-Global Forecast to 2030," the report forecasts the market to soar to $95.2 billion by 2030, with a remarkable CAGR of 13.8% from 2023 to 2030.

The burgeoning adoption of healthcare analytics solutions is becoming increasingly vital for healthcare providers amidst rising healthcare spending. With healthcare expenditure skyrocketing, providers face mounting pressure to optimize net revenue and cash flows while delivering high-quality care. Consequently, the adoption of healthcare analytics is on the rise across the healthcare sector.

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Key Drivers Fueling Market Growth:

Digital Transformation in Healthcare: The healthcare sector is embracing digital solutions to enhance patient care quality and curb costs. Solutions powered by artificial intelligence (AI) and the Internet of Things (IoT) are revolutionizing healthcare, especially post-COVID-19.

Advantages of Digital Health Solutions: Digital tools afford healthcare practitioners greater control over patient health and access to comprehensive health data, thereby improving service efficiency and patient outcomes.

Rising Healthcare Data Generation: Digitalization has led to an explosion in healthcare data generation. Big data analytics enables healthcare providers to derive insights from historical and real-time data, facilitating more efficient operational and clinical decisions and disease management.

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The report provides a competitive landscape based on an extensive assessment of growth strategies adopted by leading market players in recent years. Key players profiled include GE HealthCare Technologies Inc., Optum, Inc., CSL Limited, Veradigm LLC, Inovalon, The International Business Machines Corporation, McKesson Corporation, KT Corporation, Epic Systems Corporation, and Cerner Corporation.

The Big Data Analytics in Healthcare Market is segmented by component, deployment, application, and end user. Among these segments, the services segment is poised to dominate the market, with prescriptive services expected to lead the charge. Cloud-based deployment is projected to witness the highest CAGR, driven by its cost-effectiveness and accessibility advantages. Financial analysis applications are anticipated to hold the largest market share, fueled by the need for cost optimization and transparency in billing procedures.

Geographically, Asia-Pacific is anticipated to exhibit the highest growth rate, driven by initiatives to digitalize healthcare infrastructure in emerging economies like India and China.

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